By Ambar Warrick
Jan 5 (Reuters) - Southeast Asian stock markets rose on
Thursday, following gains on Wall Street and buoyed by an
overnight bounce in crude oil prices.
Sentiment was also boosted by a string of upbeat factory and
service sector surveys across the globe this week.
U.S. shares ended higher on Wednesday even after minutes
from the Federal Reserve's December meeting showed concerns that
quicker economic growth under President-elect Donald Trump could
require faster interest rate hikes to ward off
inflation.
Crude prices rose nearly 2 percent overnight before dipping
in Asian trade on Thursday over doubts world producers would
fully deliver on promises to cut output.
MSCI's broadest index of Asia-Pacific stocks outside Japan
was last up 0.9 percent.
Philippine shares rose as much as 1.7 percent to
their highest in nearly two months, bolstered by industrial and
financial stocks with SM Investments gaining 4.6 percent
to a seven-week high.
Consumer prices rose to a two-year high in December due to
higher food and transport costs, in line with a Reuters poll,
but the full-year average inflation remained below the central
bank's target range, the statistics agency said on
Thursday.
Singapore shares gained as much as 1.3 percent in
their biggest percentage rise in nearly two months, led by
financials and telcos.
DBS Group Holdings, the island state's biggest
bank by market value, posted its sharpest intraday percentage
gain in nearly two months by adding 2.3 percent.
"Singapore has not performed well over the past few weeks as
compared to its regional peers," said Manny Cruz, an analyst
with Manila-based Asiasec Equities Inc.
"Given the improvement in sentiment among Asian markets,
investors have started to look at certain sectors in Singaporean
equities."
Thailand hit a 20-month high and was headed for its
eighth consecutive session of gains, while Vietnam fell
slightly.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS: AS OF 0410 GMT
Market Current Previous Pct Move
close
Singapore 2956.82 2921.31 1.22
Bangkok 1573.59 1563.58 0.64
Manila 7153.37 7030.95 1.70
Jakarta 5322.831 5301.183 0.41
Kuala Lumpur 1654.88 1647.47 0.45
Ho Chi Minh 673.43 674.7 -0.19
Change on year
Market Current End 2016 Pct Move
Singapore 2956.82 2880.76 2.64
Bangkok 1573.59 1542.94 1.99
Manila 7153.37 6840.64 4.60
Jakarta 5322.831 5296.711 0.49
Kuala Lumpur 1654.88 1641.73 0.80
Ho Chi Minh 673.43 664.87 1.30
(Reporting by Ambar Warrick; Additional reporting by Susan
Mathew; Editing by Subhranshu Sahu)